FX.co ★ UK government to spend $460 million to renovate Buckingham Palace

Renovations on Buckingham Palace will take a decade to complete. The government started to mention the necessity of the palace's facelift long ago.

Pictured: the royal family on the balcony of Buckingham Palace.

Tony Johnstone-Burt, master of the Queen's Household, said that without urgent work there is a risk of serious damage to the palace and that by making this investment in Buckingham Palace a much more costly and potentially catastrophic building failure in the years to come can be averted.

“On completion of the work, we'll have a Palace fit for purpose until 2067,” he said.

Surveyors said that the work will contribute to a projected $4.3 million per year reduction in the cost of the palace to the public purse. Thus, meters monitoring water consumption at Buckingham Palace are not economical.

The repairs will also include the replacement of ageing electrical wires, water pipes and boilers. According to officials, there is a risk of fire or water damage.

Buckingham Palace is one of the biggest buildings in the United Kingdom. It has 775 rooms, some of which will be renovated for the first time in 60 years.

The refit will start in April 2017. It is remarkable that Queen Elizabeth II will remain in residence during the work. Tourists will also be able to attend the palace.

Pictured: Buckingham Palace interior.